PKF Lesotho Official Launch - Managing Partner's Address
12 Feb 2016
The firm was set up in 2009 as a sole practice. The mindset of the founding Partner and that of the next partners is to set up a mega firm of global recognition in Lesotho. This vision led to the formation of a two partner firm less than a year after commencement of the initial practice. That vision further motivated and drove us to deploy all resources at our disposal to investment in quality assurance systems and methodologies. The efforts bore results sooner than expected. We were granted exclusive correspondence status after the first review and full admission after the second review in August 2015 by PKF International all within three years. The attainment of this milestone bears testimony to the fact that the accounting profession in Lesotho has come a long way. This is why we are here to commemorate a milestone achievement to the honor of all accountants in the country. Joint us to give kudos to the accounting profession and hail the Lesotho Institute of Accountants (LIA)
We will like to review the reasons for celebrating this event, in other words, what are the key benefits of having a PKF member firm in Lesotho? First for the nation as a whole, it’s indicative of economic growth and enrichment of professional services potentials of the economy. This will definitely contribute to increase in the Gross Domestic Product (GDP) in the service sector of the economy. Another benefit is technical skills transfers through staff secondments and prevention of capital flight in engaging non-resident firms. Secondly, it is going to enhance the recognition of LIA in the community of accounting professional bodies across the globe. LIA can now pride itself in having a firm with global ranking in its membership complement.
In the third place, what are the advantages being presented to us as a firm? We see ourselves as being privileged to having access to world class resources, in training, systems, technologies and skills transfer, There are yet greater benefits accruing to the business community, which include proximity to world class expertise within local knowledge and context, efficient service delivery, international cross border referrals for entities operating outside Lesotho, one-stop consolidation of outsourced services (within ethical boundaries) etc.
The admission to the membership of PKF International however should not be taken as an end, but rather as a means to greater service objectives. As the holy writ says, ‘to whom much is given much shall be required’. Therefore our long term goals include strategic positioning to becoming a one-stop accounting services provider for the Kingdom of Lesotho. You may wish to note that a Chartered Accountant is expected to be a jack of many trades and master of all, so also should a Chartered Accounting practice be.
Hence we wish to present PKF Lesotho, member firm of PKF International to you today. The newly re-born firm is set to become a regional, multidisciplinary business advisory service firm with industry specific services. We offer outstanding opportunities, by providing international standards based services to our clients. We play a major role in business advisory including Management consultancy, Auditing, and Tax Services etc.
With economic conditions remaining as uncertain as ever, we believe that our obligation to our clients in such an economic climate, is to increase managerial efficiencies, accuracy of projections and compliance levels with regard to security and industry regulations. These are critical aspects within any business. Hence all potential improvement avenues should be explored. We are offering to be your partner in that journey along with the support of our PKF family of member firms.
So in the months to come, we look forward to engaging with as many organisations as possible to see how much of a positive difference we can make to improving your organisation’s performance. This is our client philosophy, that in every transaction, we give to our clients more in use value than the cash value of fees received for our services. We are convinced that it is this commitment that will help see us and our clients through this uncertain times and I am sure that as the year progresses there will be many collaborative successes to celebrate together.
Ladies and gentlemen, we are here to celebrate a mid-term achievement, which as earlier mentioned, is for the benefit of the Lesotho accountancy profession as well as of tremendous benefits to the national economy. The credit for this achievement is not attributable to any individual. There are those who have helped us in various ways in reaching this goal, we wish to thank each and every one of you.
In this regard I wish to thank my very energetic Partner for keeping the vision when the going got tough, our self-sacrificing staff members, loyal clients, the Lesotho Institute of Accountants (LIA), fellow practitioners and the government of the Kingdom of Lesotho and all of those who have sacrificed their time to be with us today. We are very grateful for all your valuable contributions to making the firm what we are celebrating today. Furthermore, we thank the PKF International and member firms who have been very supportive.
Thank you and God bless you.